With the establishment of the right of free movement of persons in the European Union and the privilege of having the choice of working within different Member States within the European Union came also the question of where one employee’s contributions shall be paid.

It is a recognised principle that wealth-creating assets may well rest on Intellectual Property (IP) rights, as all companies have them, but few exploit them to their fullest extent. IP rights derive from the legal system and include registered rights, trade marks, etc.

The Cypriot Minister of Foreign Affairs, Erato Kozakou Markoulli, and the Austrian Finance Minister, Andreas Schieder, have signed a Protocol recently amending the current Convention for the Avoidance of Double Taxation